...Poplar Housing and Regeneration Community Association Limited is a government-related entity (GRE) of the United Kingdom (AA-/Stable) and Fitch Ratings has 'Strong Expectations' that the state would provide support to Poplar if needed. This, combined with a Standalone Credit Profile (SCP) four notches below the sovereign rating at 'bbb+', leads to a one-notch uplift. Continuing high demand for social and affordable housing and cash flow from rented properties continue to support Poplar's credit profile, despite a challenging economic environment. The ratings are in line with London-based peers'. The ratings reflect Poplar's stable financial profile as waning large expenses on fire safety costs and one-off breakage fees are offset by rising investment in existing stock. These costs weigh more heavily on the financial profile of Poplar - as one of the smaller London- based providers - than on its larger peers'....
